The most commonly reported spot price for
US domestic A36 carbon steel
plate is down approximately $4.50 cwt. ($99/mt or $90/nt) in the past six weeks, and many are wondering if prices have truly reached bottom. Although the most commonly reported spot price transaction range continues to trend at approximately $36.00-$38.00 cwt. ($794-$838/mt or $720-$760/nt) ex-Midwest mill, sources close to SteelOrbis say that deals at the top end of that range are becoming fewer and farther between, and there are rumors that a handful of transactions have fluttered just below the current spot price span. Other sources continue to report that Texas-based distribution centers are offering A36
plate at prices “significantly below” ex-mill offers. “It seems like they’re just wanting to turn over all their higher-cost inventory and get losses over with,” according to the source.
In terms of offshore offer prices, the most recent offer price out of Malaysian continues to be in the approximate range of $28.00-$29.00 cwt. ($617-$639/mt or $560-$580/nt) direct discharge in
US Gulf coast ports, with rumors that several other offshore producers have told customers they’re willing to deal at those levels. Buyers, however, continue to trend cautious.